Market Scenario

Global Viscosupplementation Market was valued at US$ 4,347.8 million in 2022 and is expected to reach US$ 8,958.9 million by 2030 at a CAGR of 8.4% during the forecast period (2023–2030). 

Viscosupplementation is a highly sought-after medical treatment for the management of osteoarthritis-related pain and joint function improvement. The demand for viscosupplementation has witnessed a significant surge in recent years, owing to the growing incidence of osteoarthritis and an aging population.

Innovations in viscosupplementation products, such as longer-lasting formulations and minimally invasive delivery methods, have emerged as key market trends, further driving growth. Additionally, the increasing awareness of the efficacy of viscosupplementation, along with the broadening availability of treatments through healthcare systems and retail clinics, has also played a pivotal role in fostering market growth.

The primary growth drivers for the viscosupplementation market include the rising incidence of osteoarthritis, aging demographics, and growing awareness of viscosupplementation's benefits. The expanding access to viscosupplementation treatments through healthcare systems and retail clinics has also stimulated demand for these products.

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Key Dynamics of the Global Viscosupplementation Market 

Driver

• Aging population: As the population ages, the prevalence of osteoarthritis increases, driving demand for viscosupplementation treatments.
• Rising awareness: There is increasing awareness of viscosupplementation as a treatment option for osteoarthritis, resulting in higher demand for these products.
• Advances in technology: The development of new viscosupplementation products with improved efficacy and safety profiles has expanded the viscosupplementation market and driven growth.
• Growing burden of osteoarthritis: Osteoarthritis is becoming a growing global health issue, with increasing numbers of people affected, driving demand for treatments such as viscosupplementation.
• High cost of surgery: Viscosupplementation is often seen as a cost-effective alternative to joint surgery, which can be expensive and have a longer recovery time.

Restraint

High Cost and Adverse Effect Hamper the Market Growth

The viscosupplementation market faces certain challenges that could impact its growth, such as high treatment costs and associated adverse effects. The cost of viscosupplementation using hyaluronic acid is substantial, with Euflexxa starting at roughly $1,017 and Synvisc starting at $1,325. This high cost of treatment can present a burden for middle- and low-income countries, such as India, Vietnam, the Philippines, and some countries in the Middle East.

The high cost of treatment and adverse effects associated with viscosupplementation could potentially limit market growth to some extent. However, further research and advancements in the viscosupplementation market could lead to more affordable and effective solutions, mitigating these challenges and driving market growth.

In addition, reimbursement policies for viscosupplementation treatments vary across different regions and countries, affecting the accessibility and affordability of treatments for patients. This variability in reimbursement policies could impact the adoption and growth of viscosupplementation in certain markets. Moreover, there is a lack of standardization in the formulation and delivery of viscosupplementation products, leading to inconsistent efficacy and safety outcomes among products. This lack of standardization could challenge the growth of the market and decrease patient confidence in viscosupplementation as a treatment option.

Despite these challenges, the increasing awareness of viscosupplementation's benefits and the growing demand for treatments for osteoarthritis are expected to drive market growth. Companies in the viscosupplementation market are exploring new and innovative product offerings and delivery methods to meet this demand and overcome the current challenges.

Market Segmentation

Product Type Analysis:

The viscosupplementation industry is segmented by product type into Single Injection, Three Injection, and Five Injection. The Three Injection segment is projected to hold the largest market share of 44.9% in the global viscosupplementation market in 2022. On the other hand, the Single Injection segment is expected to experience the fastest CAGR of 9.2% in the global market.

The high level of awareness about the single-injection treatment and a growing preference for the administration of osteoarthritis treatment are factors likely to drive the growth of the viscosupplementation market. The increasing demand for effective and convenient treatment options is expected to boost the adoption of single-injection viscosupplementation, further fueling market growth.

End User Analysis:

The global market is segmented into two end-user segments: Hospitals and Orthopedic Clinics/ASCs. In 2022, hospitals held the largest market share of 79.8%. However, the orthopedic clinics/ASCs segment is expected to grow at the fastest CAGR of 8.8% in the forecast period. The growth of the orthopedic clinics/ASCs segment can be attributed to the shift towards value-based care and the increasing competition faced by hospitals from outpatient facilities. Outpatient facilities offer operational and economic efficiencies, such as easier patient access, more competitive pricing, and greater physician engagement opportunities, which are contributing to their growth.

Additionally, the trend towards non-invasive and minimally invasive procedures in the viscosupplementation market is also driving the growth of the orthopedic clinics/ASCs segment. Patients are increasingly seeking more convenient and less painful treatment options for their orthopedic conditions, leading to a rise in demand for office-based procedures and ambulatory surgeries. This shift has resulted in the growth of orthopedic clinics and ASCs, which are better equipped to meet the needs of patients seeking these types of treatments. Furthermore, advancements in medical technologies and techniques are also contributing to the growth of this segment.

Moreover, the increasing prevalence of osteoarthritis and other joint-related conditions is also driving the demand for viscosupplementation procedures. As the aging population grows, the need for orthopedic treatments is expected to increase, providing growth opportunities for the viscosupplementation market.

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Geographical Analysis

In terms of geography, the viscosupplementation market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. Asia Pacific is expected to hold the largest market share, driven by the high prevalence of osteoarthritis and a growing demand for effective and minimally invasive treatments. The region is also is expected to experience the fastest growth in the coming years, driven by the increasing demand for treatments for osteoarthritis, a rapidly aging population, and the growing awareness of viscosupplementation. Additionally, the increasing healthcare spending and advancements in the field are expected to further drive market growth in the Asia-Pacific region. In line with this, the region is projected to continue contributing over 38% to the global viscosupplementation market revenue. 

North America is expected to follow closely behind, with a significant market share attributed to the increasing awareness of viscosupplementation and the availability of treatments through healthcare systems.

List of Key Companies profiled:

• Sanofi
• ANIKA THERAPEUTICS, INC.
• SEIKAGAKU CORPORATION
• Zimmer Biomet
• SMITH & NEPHEW PLC
• LG Chem
• LIFECORE
• Ferring B.V.
• Fidia Farmaceutici S.p.A.
• Other Prominent Players

Key Developments:

• In August 2021, Seikagaku, a Japan-based company, launched HyLink, an Intra-Articular single injection viscosupplement for the treatment of Knee Osteoarthritis in Taiwan in partnership with TCM.
• In May 2021, Ono Pharmaceutical Co., Ltd. and Seikagaku Corporation launched JOYCLU 30mg Intra-Articular Injection, a joint function improvement agent that received manufacturing and marketing approval in Japan in March 2021.
• In January 2021, Miravo Healthcare also announced the Canadian Commercial Launch of NeoVisc+ and NeoVisc ONE for treating pain and improving knee joint functionality.

Segmental Overview

By Product Type

• Single Injection
• Three Injection
• Five Injection

By End Users

• Hospitals
• Orthopedic Clinics/ASCs

By Region

• North America
  • United States
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Rest of Rest of America